* Delivered >$125MM of
Cost Synergy Savings;
Cost Synergy Run-Rate of $1.365B.
"Takeda is relentlessly executing towards our
cost synergy, de-leveraging, and margin targets.
"In this environment, we will maintain cost and operating discipline by continuing
cost synergy and stranded cost removal actions, by reducing our planned capital expenditures for the year from $2.5 billion to $2 billion, without sacrificing high-return growth projects, and by continuing with disciplined margin management.
The revised
cost synergy estimate is lower than the earlier estimate, as the closing was delayed from the original target and both parties have already executed some of the cost savings.
We expect our Underlying Core Earnings margin to reach the mid-twenties in fiscal 2019, and we are targeting Underlying Core Earnings margin in the mid-thirties in the medium term, driven by continued Opex efficiencies and relentless execution against our
cost synergy targets.
DowDuPont achieved
cost synergy savings of more than $500 million in the quarter, and since merger close has now delivered more than $1.8 billion of cumulative savings.
Etihad Airways also initiated a range of business and
cost synergy programs, covering fleet and engine acquisition, maintenance, recruitment and training, and joint marketing.
DG FastChannel said it sees
cost synergy effects of USD2m by the end of next year and that the transaction is part of its strategy to digitise the direct response sector.Country: USA, Sector: Advertising/PRTarget: Deal size in USD: 26mType: Corporate acquisitionStatus: Closed
The ratings would be affirmed if the risks balance or outweigh revenue and
cost synergy opportunities.
By the end of the year, the company had met its acquisition
cost synergy target one full year earlier than expected.
* The division achieved year-over-year
cost synergy savings of more than $125 million in thequarter and since merger close has now delivered nearly $1 billion of cumulative savings.The division exited the first quarter at a $1,365 billion annual
cost synergy run-rate.
Victory Capital also announced that it has increased
cost synergy estimates for the transaction from $110M to $120M.
